Goldman Sachs Group Inc. Raises Stake in Live Oak Bancshares, Inc. $LOB

Key Points

• Goldman Sachs Group Inc. increased its stake in Live Oak Bancshares by 15.2%, owning approximately 0.58% of the company valued at $7,041,000 as of the latest SEC filing.
• Live Oak Bancshares announced a $0.03 dividend to be paid on September 15, with an ex-dividend date of September 2, yielding 32.0%.
• Analyst ratings for Live Oak Bancshares have been positive with a consensus rating of "Moderate Buy" and a price target of $43.75 following upgrades from Keefe, Bruyette & Woods.

Goldman Sachs Group Inc. grew its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 264,122 shares of the bank's stock after purchasing an additional 34,849 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.58% of Live Oak Bancshares worth $7,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Howe & Rusling Inc. lifted its stake in shares of Live Oak Bancshares by 15.7% during the 1st quarter. Howe & Rusling Inc. now owns 9,848 shares of the bank's stock valued at $263,000 after buying an additional 1,335 shares in the last quarter. Inspire Investing LLC raised its holdings in Live Oak Bancshares by 27.3% during the first quarter. Inspire Investing LLC now owns 12,884 shares of the bank's stock valued at $343,000 after acquiring an additional 2,760 shares during the period. Jane Street Group LLC lifted its position in shares of Live Oak Bancshares by 1,263.2% in the first quarter. Jane Street Group LLC now owns 201,816 shares of the bank's stock valued at $5,380,000 after acquiring an additional 187,011 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Live Oak Bancshares in the first quarter worth about $1,758,000. Finally, Caxton Associates LLP bought a new position in shares of Live Oak Bancshares in the first quarter worth about $531,000. 63.95% of the stock is currently owned by institutional investors.

Live Oak Bancshares Stock Down 1.1%

Shares of LOB opened at $36.58 on Monday. The company has a market cap of $1.67 billion, a PE ratio of 25.23 and a beta of 1.75. The business has a fifty day moving average of $34.27 and a 200 day moving average of $29.83. Live Oak Bancshares, Inc. has a 52-week low of $22.68 and a 52-week high of $50.57.

Live Oak Bancshares Announces Dividend

The company also recently announced a sep 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.03 dividend. This represents a dividend yield of 32.0%. The ex-dividend date is Tuesday, September 2nd. Live Oak Bancshares's dividend payout ratio (DPR) is 9.84%.

Analyst Ratings Changes

LOB has been the topic of several recent analyst reports. Cantor Fitzgerald started coverage on shares of Live Oak Bancshares in a research report on Wednesday, September 10th. They set a "neutral" rating and a $42.00 price objective on the stock. Keefe, Bruyette & Woods upgraded shares of Live Oak Bancshares from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $37.00 to $43.00 in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Live Oak Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $43.75.

Live Oak Bancshares Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.

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